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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: TH who wrote (19833)12/29/2004 5:35:11 PM
From: gregor_us  Read Replies (1) of 116555
 
So Much for the Theory That CB's Were Going To Shorten

the duration of their T-Bond portfolios, as a way to keep overall T-Bond exposure while reducing risk.

**NEW YORK, Dec 29 (Reuters) - U.S. Treasury debt prices slipped on Wednesday after an auction of $24 billion in new two-year notes drew only scant demand in a holiday-thinned market.

Particularly troubling was the lack of interest from indirect bidders, which include foreign central banks. They picked up just $7.90 billion, or 33 percent, of the whole issue, down from the 42.0 percent taken in the November auction.**

Look out below!

LP
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